PINE ISLAND

INVESTMENT HIGHLIGHTS

• 18.24 Acre development site in thriving St. Johns County.
• Achieved zoning allow for up to 202 units, four-story buildings comprised of a mix of 1, 2 and 3-bedroom units.
• Tightened supply pipeline due to effective moratorium on multifamily developments.
• #1 Ranked School System in the State and 8th in the Country.
• Pine Island is located in the Jacksonville MSA which is one of the top 15 metropolises in the country that gained the most new residences, just over 14,000 new residents between July 2022 and July 2023.
• Average Home Sale Price in St. Augustine for May 2024 was $457,000.
• Median Household Income is $128,182 within a 3-mile radius of the development site.
• Proposed 38.4-mile “First Coast Commuter Rail” will connect Jacksonville to St. Augustine. The route includes several proposed stations in downtown Jacksonville, Baymeadows, Avenues Walk, US1/CR 210, Palencia, King Street, and SR 312.
• St. Johns County, now home to over 300,000 residents, is showcasing a massive $588 million investment in infrastructure. This comprehensive plan includes $298 million dedicated to recent and ongoing roadway projects. Key projects for 2024 encompass enhancements to Pine Island and U.S. 1 signal.